Rockport Mortgage Corporation Provides $19M Loan For Residential Property In New Bedford
FINANCED
$19,000,000
Massachusetts
See Similar DealsCo-Op101,289 SF
Financed 06/29/2020
FINANCED
Rockport Mortgage Corporation Provides $19M Loan For Residential Property In New Bedford
231 Middle Street, New Bedford, MA, USA
See Similar DealsCo-Op101,289 SF
Financed 06/29/2020
Summary
MASSACHUSETTS
Asset Type:Co-Op
Price Per Square Foot:$187
Total Square Footage:101,289 SF
Transaction Type:Loan
A residential property located at 231 Middle Street in New Bedford has been involved in a closed transaction. The deal, which took place on 06/29/2020, was facilitated by Rockport Mortgage Corporation, with Dan Lyons representing the lending side. The loan amount for this transaction was $19,000,000, and the property consists of 157 units.
Summary of transation details
- Property Type: Residential
- Transaction Amount: $19,000,000
- Address: 231 Middle Street
- Market: New Bedford
James Sullivan, representing Kempton New Bedford, played the role of the landlord in this deal. On the other hand, Chrystal Kornegay from MassHousing acted as the broker. It's worth noting that Chrystal Kornegay represented the buyer or seller in this transaction.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$19,000,000.00
Monthly NOI$126,666.67
Monthly Debt Service$120,092.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions